Vendome Shareholders Update 2012-2013 Outlook
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TORONTO, ONTARIO -- (Marketwire) -- 02/08/13 -- Vendome Resources Corp. (TSX VENTURE: VDR)(FRANKFURT: 9VR) ("Vendome" or the "Company") is pleased to provide a review to its shareholders of its Mexican exploration interests, as follows:
-- Preliminary reconnaissance samples at the San Javier Mine Property
collected in 2010 returned values up to 15,042 g/tonne silver, 3.19%
zinc, and 3.41% lead. Mineralization observed in the quartz veins
consisted of arsenopyrite, pyrite, chalcopyrite, argentite, galena, and
sphalerite.
-- The results from the December 2011, San Javier Mine random grab sampling
program returned values of up to 1,384 g/t silver, 4.18% zinc and 7.32%
lead. Furthermore, these results considerably expanded the known aerial
extent of the property's stockwork vein system potential.
-- In January 2012 the Company retained the services of ACA Howe
International Ltd. (ACA Howe) as its independent geological consultants,
in order to assist in the planning and management of future exploration
work at the company's Guerrero State, Mexico properties.
-- The vendor of the San Javier concession, Camsim Minas SA de CV, agreed
to give Vendome an expenditure credit in the amount of $400,000 in
exchange for 800,000 common shares of the company, having a deemed price
of $0.50 per share.
-- During the spring 2012 field program, 42 grab samples were collected
from exposed vein material. Values for silver ranged from less than 2
grams per tonne to 7,212 grams per tonne, with an average grade of 925
grams per tonne. Of the 42 grab samples, four (4) returned silver values
less than 10 grams per tonne, 10 returned silver values between 10 and
100 grams per tonne, 18 returned silver values between 100 and 1,000
grams per tonne, and 10 returned silver values greater than 1,000 grams
per tonne. Additionally, values for lead in these grab samples ranged
from 0.1% to 5%, and zinc ranged from 0.1% to 6%.
-- In excess of 340 chip samples were collected during the Spring 2012
field program across exposed vein and wall rock material in the Veta
Tajo area. Chip channels were typically 2 to 3 cm wide and 1 cm deep and
were cut using a hammer and moil. Laboratory analysis of these samples
returned silver values ranging from less than 2 grams per tonne to
bonanza grades in excess of 2,000 grams per tonne, with a high light of
471 g/tonne over a continuous chip channel length of 16 m. Vendome
management is extremely encouraged by these chip results in that the
potential for bulk silver mineralization in wall rock, in addition to
high grade narrow vein mineralization has been confirmed.
-- The company received a very encouraging National Instrument 43-101
Technical Report for its San Javier, La Diana and San Miguel projects.
Highlights of the report suggest that the mineralized polymetallic vein
systems on the San Javier Project are related to regional scale
structures that penetrate to great depth, and, moreover, that it is
probable that additional veins are present in proximity to other
regional structures on and near the San Javier property. Furthermore,
based on ASTER satellite imagery the apparent disposition of
hydrothermal alteration and structure, the La Diana and San Miguel
concessions may host mineralization similar to that found at the San
Javier Property, and, with it, the possibility of multiple prospects and
occurrences across those properties.
-- Vendome has strengthened its management team, with the appointment of
two new Directors, Mr. Victor Dario of Zurich, Switzerland, and Mr.
Robert Chisholm of Burlington, Ontario, Canada.
Franz Kozich, CEO of Vendome Resources commented: "All of the preliminary ground work has been completed. Management is very enthusiastic about the values returned to date, and we are now preparing for a 3,000 metre drilling campaign to confirm the high grade bonanza-silver values found at surface."
Warren Hawkins, P.Eng, a "Qualified Person", within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release. Mr. Hawkins is not considered to be "independent" of the Corporation (as defined in National Instrument 43-101), as he currently holds securities of the Corporation.
Contacts:
Vendome Resources Corp.
Franz Kozich
CEO
(416) 708 6871 or (647) 932 1604
info@vendomeresourcescorp.com